This paper investigates the signal reconstruction in the IIR multirate filter banks subject to subband noises. It uses the technique of linearizing change of variables to overcome the difficulty of nonlinear matrix inequality constraints associated with the mixed H2/H-infinity optimization of IIR multirate filter banks, and generalizes the authors previous results on FIR filter banks to the design of mixed H2/H-infinity optimal IIR synthesis filter banks. A design example is presented to demonstrate the significant performance improvement of the designed multirate filter banks in the presence of subband noises. The limitation of the obtained design method is also pointed out.